All ReportsI Paid A BribeNationalized Bank official takes 10pc cut
  • I Paid A Bribe
  • 13 years ago
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Nationalized Bank official takes 10pc cut

Reported on August 23, 2011 from Hyderabad , Telangana  ι Report #4023

My brother wanted to start his transport business. Coming from a middle class family, we did not have the ten lakhs he needed. He went to many many banks but none entertained his business plan. One of them gave away his business plan to his relative and processed the loan for him. This is not what I am reporting.

One of the bank "encouraged" him to work with them and they would extend a loan. They encouraged him to submit fraudulent documentation and forced him to mortgage our ancestral property. For a 10pc cut from a ten lakhs loan they processed the loan. This what a nationalized bank can do. Please be very careful.

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